How Does Ripple Work? Is It CENTRALIZED? A Simple Explanation With Examples!

How Does Ripple Work? Is It CENTRALIZED? A Simple Explanation With Examples!

I finally took some time and did thorough research of Ripple just to see what its purpose is, how it works, and whether or not it’s centralized (and if so, to what extent). I learned a lot about Ripple so I wanted to share with you my findings in this overview video with plenty of examples!

Some high-level topics:
– Ripple ledger, network, open-source consensus protocol
– Real-time gross settlement, remittances, forex currency exchange
– IOUs vs XRP for payment transactions
– Banks and liquidity providers
– XRP as a bridge currency (avoids counterparty risk)
– Market maker definition and role
– Consensus protocol and ledger
– Centralization and balance freeze

I hope this helps! P.s. I do not own any Ripple, nor am I a shill for it!

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Genres / Categories: For Beginners